Is Bernanke Wise Enough to Exit? By Lawrence Kudlow
Fed head Ben Bernanke went before Congress this week with his midyear update on monetary policy and the economy.
Fed head Ben Bernanke went before Congress this week with his midyear update on monetary policy and the economy.
The president is "not familiar" with the bill. No one can explain how it will work yet, as Sen. Ben Cardin, D-Md., told a contentious town meeting. There are various plans, and negotiations are still in the early stages.
I was listening to National Public Radio's morning "news" Monday on the way to work, during which the newsperson read the apparently "factual" statement that the United States is the only developed country that does not provide "comprehensive" health care coverage.
Sacramento is so desperate to erase the state budget's $26.3 billion shortfall that Gov. Arnold Schwarzenegger and the Democratic Legislature seem poised to end decades of prohibition so that they can tap new revenue from a widely occurring natural resource -- one dear to many Californians and known for its unmistakable aroma.
"Spoiled: Organic and Local Is So 2008," read the headline in Mother Jones magazine. You can imagine the snark that followed.
Once upon a time, British and American politics seemed to operate in tandem. Margaret Thatcher and Ronald Reagan came to office, both supposedly little experienced and out of the mainstream, at about the same time.
Last weekend, the New York Times reported that after 9/11, the CIA developed a "secret counterterrorism program" to train hit squads to kill top al-Qaida leaders. It seemed like good news to me. After all, why bankroll an intelligence agency if you can't use it to kill an enemy against whom America has declared war?
The stimulus program must really be succeeding in Washington, D.C. Government is hiring; people are working. In fact, if news reports are to be believed, they're working night and day. So maybe there's some sleep deprivation thrown in for good measure. And don't forget the legendary heat and humidity that made service in the nation's Capitol hazardous before the advent of air conditioning.
"Never let a crisis go to waste," Barack Obama's Chief of Staff Rahm Emanuel said last November. The crisis he referred to was economic: the financial collapse and the rapidly deepening recession. The opportunity it presented, for Obama and Emanuel, was to vastly expand the size and scope of the federal government through cap-and-trade and health-care legislation.
Very soon, Congressional leaders are expected to announce the creation of a new commission to investigate the real causes of America's crippling financial disaster.
Two schools of thought on the Senate's power of advice and consent on Supreme Court nominees: One -- which I support, but then-Sen. Barack Obama did not -- holds that barring extraordinary circumstances, senators should go along with a president's judicial choices.
Back when the boomers were babes, the girls would strut and preen around a stylish health food restaurant in Manhattan. No one took much note of a 70ish woman in comfy shoes who would sit quietly along the wall at lunch. She was Greta Garbo.
I agree with publisher Mort Zuckerman who recently wrote in the Wall Street Journal that subprime jobs numbers in the U.S. foreshadow continued economic weakness. But the stock market seems to disagree with both of us. Stocks are roaring ahead again today — up over 150 points — after holding the high ground yesterday and following Monday’s huge rally. Even a sub-par retail sales report didn’t stop retail stocks from posting a 1.6 percent gain.
Sonia Sotomayor makes me smile. Maybe I should have a more highfalutin response to the back-and-forth between the judge and the senators. But why?
As I cruise around the Greek Isles for a few weeks, I want to recommend a truly remarkable book for your summer reading, "Freeing Tibet:50 Years of Struggle, Resilience, and Hope," by my great friend John Roberts and his wife, Elizabeth Roberts.
In the polling hierarchy, the least signif icant data measure is a president's per sonal popularity. Here, President Obama excels, with most polls showing him in the high 60s. Next comes his job approval, significant but not necessarily predictive.
When California voters rejected five measures on the May 19 special election ballot, but passed a sixth measure that barred legislative pay raises in budget deficit years, the message to Sacramento was clear: Voters did not like what Sacramento had to offer.
One of America's toughest problems is being solved right before our unseeing eyes. As Mark Sanford strayed, Michael Jackson departed and Sarah Palin quit, the Obama administration was quietly putting law, order and the national interest back into our immigration system.
Disarray. That's one word to describe the status of the Obama administration's legislative program as Congress heads into its final four weeks of work before the August recess. A watered-down cap-and-trade bill passed the House narrowly last month, but Sen. Barbara Boxer has decided not to bring up her version in the upper chamber until September.
No wonder skeptics consider the left's belief in man-made global warming as akin to a fad religion -- last week in Italy, G8 leaders pledged to not allow the Earth's temperature to rise more than 3.6 degrees Fahrenheit.